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REGISTERED NUMBER: 09603244 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2023

FOR

MJM CORPORATION LTD

MJM CORPORATION LTD (REGISTERED NUMBER: 09603244)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MJM CORPORATION LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







DIRECTOR: M J Maguire





REGISTERED OFFICE: 12 Skipton Close
Milton Keynes
United Kingdom
MK15 9DJ





REGISTERED NUMBER: 09603244 (England and Wales)





ACCOUNTANTS: Rawlinson Pryde Limited
Chartered Accountants
Argent House
5 Goldington Road
Bedford
Bedfordshire
MK40 3JY

MJM CORPORATION LTD (REGISTERED NUMBER: 09603244)

BALANCE SHEET
31 MAY 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Investments 4 301,003 179,021

CURRENT ASSETS
Debtors 5 1,954 135,000
Prepayments and accrued income 32 -
Cash at bank 15,490 6,624
17,476 141,624
CREDITORS
Amounts falling due within one year 6 291 800
NET CURRENT ASSETS 17,185 140,824
TOTAL ASSETS LESS CURRENT
LIABILITIES

318,188

319,845

ACCRUALS AND DEFERRED INCOME 450 -
NET ASSETS 317,738 319,845

CAPITAL AND RESERVES
Called up share capital 8 31 31
Fair value reserve 9 4,753 -
Retained earnings 312,954 319,814
SHAREHOLDERS' FUNDS 317,738 319,845

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

MJM CORPORATION LTD (REGISTERED NUMBER: 09603244)

BALANCE SHEET - continued
31 MAY 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 18 February 2024 and were signed by:





M J Maguire - Director


MJM CORPORATION LTD (REGISTERED NUMBER: 09603244)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

1. STATUTORY INFORMATION

MJM Corporation Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A
These financial statements for the year ended 31 May 2023 are the first that are prepared in accordance with FRS 102 Section 1A. The previous financial statements were prepared in accordance with FRS105, the date of transition to FRS 102 Section 1A is 1 June 2021.

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at transaction price and measured at amortised cost using the effective interest method.

Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through profit and loss. All other investments are subsequently measured at cost less impairment.

Debtors and creditors that fall due within one year are recorded in the financial statements at transaction price and then subsequently measured at amortised cost. If the effects of the time value of money are immaterial, they are measured at cost (less impairment for trade debtors).

Debtors are reviewed for impairment at each reporting date and any impairments are recorded within profit or loss and shown within administrative expenses when there is objective evidence that a debtor is impaired. Objective evidence that a debtor is impaired arises when the customer is unable to settle amounts owing to the company or the customer becomes bankrupt. Debtors do not carry interest and are stated at their nominal value.

Trade creditors are not interest-bearing and are stated at their nominal value. Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

All equity instruments, regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment.

Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset which exceeds what the carrying amount would have been had the impairment loss not previously been recognised.


MJM CORPORATION LTD (REGISTERED NUMBER: 09603244)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Interest income
Interest income is recognised in the profit or loss using the accruals basis.

Dividend and other investment income
Dividends and other investment income are recognised in the profit or loss when they are received.

Fixed asset investments
Fixed asset investments are those which are expected to be held for a period of at least one year form the balance sheet date.

Fixed asset investments held in listed company shares are remeasured to the market value at each balance sheet date. The remeasured gains and loses are recognised in the profit or loss in the period.

The remeasured gains and loses are shown in the fair value reserve.

Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, on-demand deposits with banks and other short-term highly liquid investments.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

MJM CORPORATION LTD (REGISTERED NUMBER: 09603244)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023

4. FIXED ASSET INVESTMENTS
Listed
investment
£   
COST OR VALUATION
At 1 June 2022 179,021
Additions 185,649
Disposals (68,420 )
Revaluations 4,753
At 31 May 2023 301,003
NET BOOK VALUE
At 31 May 2023 301,003
At 31 May 2022 179,021

Cost or valuation at 31 May 2023 is represented by:

Listed
investment
£   
Valuation in 2023 4,753
Cost 296,250
301,003

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Other debtors - 135,000
Deferred tax asset 1,954 -
1,954 135,000

A deferred tax asset has been recognised on tax losses to carry forward, as the director believes that this will be utilised against future taxable profits.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Taxation and social security 291 -
Other creditors - 800
291 800

MJM CORPORATION LTD (REGISTERED NUMBER: 09603244)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023

7. DEFERRED TAX
£   
Capital losses (1,632 )
Investment gains/(losses) 1,188
Loan relationships (1,510 )
Balance at 31 May 2023 (1,954 )

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.23 31.5.22
value: £    £   
31 Ordinary £1 31 31

9. RESERVES
Fair
value
reserve
£   
Transfer between reserves 4,753

At 31 May 2023 4,753